Question

7. Mr Gupta borrowed 10,000 from his friend Mr Malik at 10% p.a. simple interest for 3 years. He lent this
money to Mr Goyal at double the rate for the same duration but compounded it annually. Find his gain after
3 years.​

Answer 1

Answer:

his profit=310 rs

Step-by-step explanation:

Here is your SOLUTION -

➡️ Amount Borrowed by Mr. Gupta = ₹10000

➡️At the Rate of = 10% p.a.

➡️Time = 3 years ( Simple Interest )

➡️SI = P*R*T/100

➡️SI = 10000*10*3/100

➡️SI = ₹3000

Finding Compound Interest :-

➡️A = P(1+R/100)n

➡️A = 10000(1+10/100)3

➡️A = 10000*110/100*110/100*110/100

➡️A = ₹13310

➡️CI = A - P

➡️CI = 13310 - 10000

➡️CI = ₹3,310

Mr. Gupta's Profit = ₹(3310 - 3000)

➡️His Profit = ₹310

Hence Profit = ₹310.

____________________

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Answer 2

Answer:

Principal - 10000

Rate - 10%

Time - 3 years

SI = P×R×T

100

SI =10000×10×3

100

= 3000

CI = [P×(1+R. )×T] -P

100

CI = [10000×(1+20. ) ×3] - 10000

100

CI = [10000×120 ×120 ×120] -10000

100. 100. 100

[10×12×12×12] -10000

= 7280

CI-SI

7280-3000

= 4280

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